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Cable Update (GBPUSD)

  • #83,121
  • Aug 20, 2008 3:52am Aug 20, 2008 3:52am
First bullish candle in 13 on the daily chart yesterday, as 1hr goes into a range/consolidatuion, with an overall bearish biais.

Intraday the biais is bearish-nuetral overall at time of writing...8685 area being first upside hurdle the current intraday hi, and above this that 8720-35 area I guess.

Support to the downside could come any where with an ascending potential support trend line now drawn from friday's low to yesterday's low, ..as yet untested. Mni are suggesting bids may lie at from the current lows thru 8575/70, then 8540/30 ..area of yesterday's lows(trend line would cut thru higher) and 8512-00 area of friday's los
ex member
  • #83,122
  • Aug 20, 2008 3:52am Aug 20, 2008 3:52am
Quoting scyang
I don't mean that the UK would have a rate cut, but the market was anticipating a rate cut soon from the UK MPC, thus the big drop in cable. The market is very much a speculative thing. Buy the rumor, sell the news, or vice versa. It's nothing new that the UK was monetary policy committee was contemplating a rate cut. Unless the meeting minutes coming out showing a larger than expected number of members voted for a rate cut, and a bigger cut than 25 bps, then it wouldn't cause too much of a wave other than the inital irradical movements.
Hum...:nerd:
.....
Good luck & success!
  • #83,123
  • Aug 20, 2008 3:55am Aug 20, 2008 3:55am
Quoting DJ4x
Hey Guys,
Haven't been trading last two weeks. Too scared of the market
Just put in a small long now. Getting my toes wet so to speak
Have fun trading
F&$@
  • #83,124
  • Aug 20, 2008 4:04am Aug 20, 2008 4:04am
Quoting DJ4x
Hey Guys,
Haven't been trading last two weeks. Too scared of the market
Just put in a small long now. Getting my toes wet so to speak
Have fun trading
Thanks...

...but, trading is a job...this insīt a casino!

This is one of rules to allow you to surviver here...

Good luck & success!
  • #83,125
  • Aug 20, 2008 4:06am Aug 20, 2008 4:06am
Quoting DJ4x
F&$@
im the same to damn scared as well ....i have droped below 2k equity and that i said would be the lowest i lose, now im under it and looking for a grade A trade...lets hope the bottom dont break
  • #83,126
  • Aug 20, 2008 4:08am Aug 20, 2008 4:08am
Quoting SamuelOnline
Thanks...

...but, trading is a job...this insīt a casino!

This is one of rules to allow you to surviver here...

Good luck & success!
You think???
  • #83,127
  • Aug 20, 2008 4:09am Aug 20, 2008 4:09am
is everyone here winning over all?

i loss a few hundreds usd.. i feel like shit
  • #83,128
  • Aug 20, 2008 4:12am Aug 20, 2008 4:12am
Quoting DJ4x
You think???

might have hope here bro..but if it crosses.....oh crap
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  • #83,129
  • Aug 20, 2008 4:12am Aug 20, 2008 4:12am
Quoting DJ4x
You think???
With due respect...

...thatīs stupid question!

Yes, I am sure...absolutely!

Good luck & success!
  • #83,130
  • Aug 20, 2008 4:13am Aug 20, 2008 4:13am
Quoting nAVIN2007
im the same to damn scared as well ....i have droped below 2k equity and that i said would be the lowest i lose, now im under it and looking for a grade A trade...lets hope the bottom dont break
Well I'm still good on the equity, but thinking it too low to short, although it could drop like a ????

So, hence the long
I have been watching since Monday and trying to get a feel of the market again. Nothing like doing it live though
  • #83,131
  • Aug 20, 2008 4:13am Aug 20, 2008 4:13am
Quoting trading801
is everyone here winning over all?

i loss a few hundreds usd.. i feel like shit

sorry to here this....
  • #83,132
  • Aug 20, 2008 4:15am Aug 20, 2008 4:15am
Quoting SamuelOnline
With due respect...

...thatīs stupid question!

Yes, I am sure...absolutely!

Good luck & success!
You being too serious. Lay off me. I know the rules.

Thank you for the concern though
  • #83,133
  • Aug 20, 2008 4:17am Aug 20, 2008 4:17am
Quoting DJ4x
Well I'm still good on the equity, but thinking it too low to short, although it could drop like a ????

So, hence the long
I have been watching since Monday and trying to get a feel of the market again. Nothing like doing it live though
u know it ...actaully ive been saying what i think is happening and its all working only problem is i didnt enter, just talking...and i know when i place a trade live its a different story...

i hope it goes up for u bro..
  • #83,134
  • Aug 20, 2008 4:21am Aug 20, 2008 4:21am
hi all..

my short yesterday was at 1.8580.. now it is finally reaching .. should i exit safe at that level. .. or should i wait to grab some pips.. is the long risk high now?
  • #83,135
  • Aug 20, 2008 4:25am Aug 20, 2008 4:25am
Quoting trading801
hi all..

my short yesterday was at 1.8580.. now it is finally reaching .. should i exit safe at that level. .. or should i wait to grab some pips.. is the long risk high now?
grab some pips
  • #83,136
  • Aug 20, 2008 4:26am Aug 20, 2008 4:26am
Quoting DJ4x
Hey Guys,
Haven't been trading last two weeks. Too scared of the market
Just put in a small long now. Getting my toes wet so to speak
Have fun trading
good luck hope you didn't lose much this month. i lost lots heheehe
When life gives you lemons, make lemonade
  • #83,137
  • Aug 20, 2008 4:27am Aug 20, 2008 4:27am
Quoting micho
good luck hope you didn't lose much this month. i lost lots heheehe
Enough to make me wary. Not enough to make me stop
  • #83,138
  • Aug 20, 2008 4:27am Aug 20, 2008 4:27am
Quoting trading801
is everyone here winning over all?

i loss a few hundreds usd.. i feel like shit

Sorry to hear of your pain, in answer to your question, no every one is not winning, in fact most are losing overall, but this may be a learning curve and if they can survive it will have been the cost of the lesson (s) required to become consistently overall profitable. Be aware that on forums like this, even those that say they are winning might be losing, as a strange phenomenon exists borne out of hubris, whereby the game becomes impressing others instead of trying to actually make money by being in tune with,not beating...(an important distinction) the market. The extent to which this phenomenon exists on this forum/particular thread I have no idea, but it no doubt does and there is sufficient evidence of that although obviously no absolute proof.

We all go through periods like the one you describe, Try and stick in there, keep watching, keep learning, keep reading, keep observing live market price behaviour and develop your own trading edge.
ex member
  • #83,139
  • Aug 20, 2008 4:30am Aug 20, 2008 4:30am
thanks bro...


after it reaches a low, i think we are game for LONG right?

at what position will u folks enter for the long wave?
  • #83,140
  • Aug 20, 2008 4:32am Aug 20, 2008 4:32am
next targets 1.8510/30
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